DAVENPORT & Co LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,296,123 shares of the company’s stock after selling 19,154 shares during the period. Johnson & Johnson comprises 2.2% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 5th largest position. DAVENPORT & Co LLC’s holdings in Johnson & Johnson were worth $192,967,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in JNJ. APG Asset Management N.V. lifted its position in Johnson & Johnson by 3.8% during the first quarter. APG Asset Management N.V. now owns 4,181,079 shares of the company’s stock valued at $548,265,000 after buying an additional 152,597 shares in the last quarter. Morgan Stanley raised its stake in shares of Johnson & Johnson by 0.3% during the first quarter. Morgan Stanley now owns 20,801,433 shares of the company’s stock valued at $2,727,694,000 after purchasing an additional 54,563 shares during the period. Tudor Investment Corp Et Al purchased a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $239,000. Tower Research Capital LLC TRC bought a new stake in shares of Johnson & Johnson in the first quarter worth $429,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Johnson & Johnson by 2.9% in the first quarter. Meeder Asset Management Inc. now owns 112,465 shares of the company’s stock worth $14,749,000 after buying an additional 3,218 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,115 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total transaction of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares in the company, valued at approximately $10,233,336.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ashley Mcevoy sold 29,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the transaction, the executive vice president now owns 21,682 shares in the company, valued at $3,197,444.54. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Sunday, October 18th. The company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.22. The company had revenue of $21.08 billion during the quarter, compared to the consensus estimate of $20.15 billion. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. Johnson & Johnson’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 EPS. As a group, equities analysts predict that Johnson & Johnson will post 8 EPS for the current year.
JNJ has been the subject of a number of research analyst reports. Stifel Nicolaus lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Bank of America reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Monday, July 20th. Cantor Fitzgerald boosted their target price on shares of Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday. Credit Suisse Group boosted their target price on shares of Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Independent Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $161.00 to $164.00 in a research note on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $164.93.
About Johnson & Johnson
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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